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What is Probate?

Posted on Thursday, 6th March 2014 by
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Probate is not always required on the death of a person. It will depend on the assets owned by the deceased.

If a property is owned jointly as joint tenants this will pass automatically on the death to the surviving joint owner. All bank accounts which are held in joint names again pass automatically to the survivor. It may be that on the death of a Wife/Husband/Civil Partner probate is not required.

If a property is held in joint names as tenants in common that property passes by way of the Will of the deceased or under the rules of intestacy and therefore a Grant of Probate or Letters of Administration would be required. It is likely that a Grant or Letters will be required if bank accounts/ISA’s /shares etc held in the sole name of the deceased.

When someone dies we at Edward Hands and Lewis can arrange a 30 minute free consultation to advise whether Probate will be required and can advise on the costs. We can assist you with part of the process or deal with the whole process on your behalf.

On the death of the person it is the duty of the Executor to administer the estate of the deceased i.e to collect in the assets, pay liabilities including inheritance tax ( if payable) and distribute the estate  in accordance with the Will. The Executors may not be willing or able to act and in this situation the law sets out who can act as Administrator with Will annexed. If someone dies without a Will again the law specifies who can act and who is /are the beneficiaries.

We at Edward Hands and Lewis have a dedicated team to advise on all issues and therefore please do not hesitate to contact Emma Fuller to discuss any aspect.

Emma Fuller is head of the private client team at EHL; our solicitors in Loughborough are experts in their fields and dedicated to quality client care. If you would like to find out more about our solicitors in Loughborough please contact us.

 

 

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The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.

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Emma Fuller - Wills, Probate and LPA
Emma Fuller - Wills, Probate and LPA
emma.f@ehlsolicitors.co.uk 01509 212 108
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